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1987 -----64 AN ORDINANCE TO AMEND CHAPTER 32 OF THE CODE OF THE CITY OF PORTSMOUTH, VIRGINIA, 1973, AS AMENDED, BY AMENDING SECTIONS 32-107 AND 32-113 THEREOF, PERTAINING TO ASSESSMENTS FOR IMPROVEMENTS. BE IT ORDAINED by the Council of the City of Portsmouth: 1. That Section 32-107 of the Code of the City of Portsmouth, Virginia, 1973, be amended to read as follows: Section 32-107. Assessments to be reported to City Treasurer. The amount assessed against each landowner, or for which he is liable by agreement, shall be reported as soon as practicable to the City Treasurer. Persons, firms, or corporations against whom the assessments have been finally made shall be billed by the City Treasurer, with said bills mailed not later than fourteen days prior to the due date. Said bills are to be separate and distinct from tax bills and the City Treasurer shall maintain a record of all bills assessed and the payment thereof. 2. That Section 32-113 of the Code of the City of Portsmouth, Virginia, 1973, be amended to read as follows: Section 32-113. Installment payment of assessments. Persons, firms, or corporations against whom assessments have been finally made may pay such assessments in equal installments over a period not exceeding five years together with interest at a rate equal to the judgement rate of interest on the unpaid balances. Such installment shall become due at the same time that real estate taxes become due and payable in the City and the amount of each installment~ including principal and inter,st, shall be shown on a bill mailed not later than fourteen days prior to the installment due date to each such person, firm or corporation by the Treasurer. When each bill assessed has been paid in full, the City Treasurer shall transmit such information in writing to the City Attorney, who shall have the lien so indexed marked satisfied. 3. That this ordinance shall take effect on the date of its adoption.